Equity Transactions | The Company has 4,000,000,000 common shares authorized with a par value of $ 0.001 per share. The Company has 10,000,000 preferred shares authorized with a par value of $ 0.001 per share. On July 18, 2013, the Company designated, from the 10,000,000 authorized shares of preferred stock, 6,000,000 shares of Series “A” Preferred Stock. The Series “A” Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. On July 18, 2013, the Company granted 6,000,000 Series “A” Preferred shares and 827,670 common shares for the intellectual property. The common and preferred shares were valued at a total of $123,973. On July 19, 2013, our new officer/director agreed to cancel 5,002,554 common shares and returned them to treasury. Certain other shareholders also agreed to cancel 2,625,210 common shares. On September 5, 2013, the Company increased the authorized common shares from 900,000 to 375,030,000. Correspondingly, the Company affirmed a forward split of 4.167 for 1 in which each shareholder was issued 4.167 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. On October 29, 2013, the Company granted 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On December 11, 2013, the Company granted 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On June 9, 2015, the Company issued 900,000 units at $0.02 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.02 and a five year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On December 15, 2015, the Company issued 4,000,000 units at $0.01 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.01 and a five year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. The following is a summary of the inputs used to determine the value of the warrants issued in connection with common stock using the Black-Scholes option pricing model. Date June 9, 2015 Dec 15,2015 Warrants 900,000 4,000,000 Stock price on grant date $0.02 $0.01 Exercise price $0.02 $0.01 Expected life 5 year 5 year Volatility 98% 98% Risk-free rate 1.74% 1.71% Calculated value $13,259 $29,612 Fair value allocation of proceeds $13,259 $29,612 The following is a summary of the warrant activity for the period March 31, 2016 to December 31, 2016: Number of warrants Weighted average exercise price Outstanding, March 31, 2016 4,930,666 $0.192 Granted $ - Exercised - - Outstanding, December 31, 2016 4,930,666 $0.192 On April 22, 2015, the Company sold 100,381 shares of common stock for $5,405 in cash, which was paid directly to a vendor for accounts payable. On June 25, 2015, the Company sold 1,542,455 shares of common stock for $10,797 in cash, of which $3,750 was paid directly to professionals in connection with the expenses of that sale, and $7,047 was retained by the Company. On July 7, 2015, the Company sold 1,619,423 shares of common stock for $11,336 in cash, of which $3,750 was paid directly to a vendor for professional services. On July 15, 2015, the Company sold 1,439,282 shares of common stock for $10,075 in cash. On October 27, 2015, the Company sold 1,648,840 shares of common stock for $11,542 in cash. During the periods ended December 31, 2016 and March 31, 2016, the Company received, as listed, conversion notices from various note holders. The Company issued the following common shares to satisfy the conversion of the following debt and interest: Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2015 $16,650 411,111 $0.04050 April 6, 2015 $10,000 209,644 $0.04770 April 8, 2015 $15,309 453,561 $0.03375 April 8, 2015 $20,001 454,545 $0.04400 April 9, 2015 $14,320 325,455 $0.04400 April 14, 2015 $10,000 236,967 $0.04220 April 16, 2015 $1,918 53,000 $0.03619 April 21, 2015 $10,000 259,740 $0.03850 April 29, 2015 $15,000 389,610 $0.03850 May 4, 2015 $5,083 131,464 $0.03866 May 12, 2015 $28,456 903,380 $0.03150 May 20, 2015 $20,199 947,645 $0.02131 May 20, 015 $17,240 783,636 $0.02200 May 27, 2015 $13,568 701,801 $0.01933 May 29, 2015 $15,000 882,353 $0.01700 June 11, 2015 $9,897 942,609 $0.01050 June 16, 2015 $14,100 1,175,000 $0.01200 June 16, 2015 $13,565 1,130,417 $0.01200 June 22, 2015 $7,415 1,235,833 $0.00600 June 22, 2015 $14,384 2,479,924 $0.00580 June 23, 2015 $7,752 1,292,000 $0.00600 September 16, 2015 $7,974 1,772,033 $0.00450 September 28, 2015 $10,000 1,666,667 $0.00600 September 29, 2015 $10,620 1,770,000 $0.00600 October 7, 2015 $2,250 375,000 $0.00600 October 7, 2015 $8,400 1,400,000 $0.00600 October 19, 2015 $9,720 1,620,000 $0.00600 November 2, 2015 $4,424 1,966,124 $0.00225 November 23, 2015 $10,000 1,666,667 $0.00600 November 30, 2015 $16,844 2,591,323 $0.00650 December 9, 2015 $1,746 775,991 $0.00225 December 17, 2015 $5,332 919,319 $0.00580 December 28, 2015 $1,341 596,200 $0.00225 December 28, 2015 $17,700 2,950,000 $0.00600 December 28, 2015 $14,305 2,384,167 $0.00600 December 28, 2015 $14,963 2,579,916 $0.00580 December 29, 2015 $8,395 1,399,167 $0.00600 December 29, 2015 $7,670 1,278,333 $0.00600 December 30, 2015 $6,651 2,956,248 $0.00225 January 1, 2016 $28,500 4,384,615 $0.00650 January 4, 2016 $19,339 3,223,213 $0.00600 January 5, 2016 $8,107 3,603,227 $0.00225 January 6, 2016 $16,070 2,678,333 $0.00600 January 6, 2016 $16,597 2,861,607 $0.00580 February 16 ,2016 $1,424 4,220,400 $0.00034 February 17, 2016 $12,800 8,443,272 $0.00152 February 23, 2016 $4,640 4,218,182 $0.00110 February 23, 2016 $3,086 4,200,871 $0.00073 February 24, 2016 $1,492 4,419,970 $0.00034 February 25, 2016 $3,000 2,638,987 $0.00114 February 25, 2016 $4,640 4,218,182 $0.00110 March 1, 2016 $1,313 5,834,458 $0.00022 March 2, 2016 $4,600 5,831,643 $0.00079 March 2, 2016 $1,650 2,586,410 $0.00064 March 2, 2016 $9,332 11,650,000 $0.00080 March 7, 2016 $2,799 6,546,292 $0.00043 March 11, 2016 $1,924 4,147,500 $0.00046 March 14, 2016 $2,245 7,125,777 $0.00032 March 15, 2016 $3,329 7,454,098 $0.00045 March 15, 2016 $5,210 11,450,000 $0.00046 March 22, 2016 $2,419 8,957,888 $0.00027 March 22, 2016 $2,367 7,200,486 $0.00033 March 22, 2016 $5,315 11,682,000 $0.00046 March 28, 2016 $1,986 8,958,779 $0.00022 March 31, 2016 Total $602,376 194,603,040 Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2016 $2,197 9,766,311 $0.000225 April 4, 2016 $4,847 17,250,000 $0.000281 April 7, 2016 $1,750 9,722,222 $0.000180 April 14, 2016 $4,158 19,250,000 $0.000216 April 15, 2016 $1,318 9,766,222 $0.000135 April 26, 2016 $1,705 12,629,776 $0.000135 May 4, 2016 $2,067 9,718,025 $0.000213 May 31, 2016 $ 828 4,600,055 $0.000180 June 2, 2016 $9,120 30,000,000 $0.000304 June 2, 2016 $4,401 29,340,333 $0.000150 June 14, 2016 $5,847 29,235,900 $0.000200 June 17,2016 $5,691 28,456,150 $0.000200 June 29, 2016 $6,580 21,270,355 $0.000309 August 23, 2016 $2,567 22,129,741 $0.000116 August 29, 2016 $2,570 22,156,120 $0.000116 September 6, 2016 $2,547 21,952,672 $0.000116 September 20, 2016 $2,443 25,267,655 $0.000097 September 26, 2016 $2,946 25,393,448 $0.000116 September 28, 2016 $2,947 25,403,448 $0.000116 September 30, 2016 $3,949 51,066,724 $0.000077 October 7, 2016 $3,381 58,291,551 $0.000058 October 14, 2016 $3,380 58,275,689 $0.000058 October 21, 2016 $3,385 58,355,689 $0.000058 October 26, 2016 $3,382 58,316,551 $0.000058 October 31, 2016 $5,037 86,837,068 $0.000058 November 7 , 2016 $5,015 86,472,931 $0.000058 November 22, 2016 $5,513 95,060,172 $0.000058 November 29, 2016 $5,515 95,092,931 $0.000058 December 6, 2016 $4,058 69,959,310 $0.000058 December 31, 2016 Total $109,144 1,091,037,049 (2) Effective April 6, 2015, the Company approved the re-pricing of all 2,712,535 previously granted options under the Company’s 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.17 per share, to $0.08 per share which was the closing price of the Company’s common stock on April 6, 2015. All of the other terms of the options remained unchanged. (3) Effective August 4, 2015, the Company approved the re-pricing of all 3,712,535 previously granted options under the Company’s 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.02 per share, to $0.02 per share which was the closing price of the Company’s common stock on August 4, 2015. All of the other terms of the options remained unchanged. The Company revalued all existing options on January 12, 2015 and again on April 6, 2015, and again on August 4, 2015 using the Black-Scholes option pricing model using the initial terms of the options and the modified terms of the options. The difference in the valuations was recorded as additional expense. The re-pricing of the options resulted in the recognition of an additional $50,448 on January 9, 2015 and an additional $9,316 on April 6, 2015, and an additional $47,463 on August 4, 2015 in related stock based compensation expense for those periods. On February 8, 2016, the Company approved a change in the authorized shares of common stock to 4,000,000,000 shares. Effective February 11, 2016, the Company approved a reverse stock split of the common stock, par value $0.001 per share at a ratio of 1 for 100 of each share issued and outstanding on the effective date. These financial statements retroactively reflect the reverse stock split for all periods. The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718: Compensation - Stock Compensation, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values The Company follows ASC Topic 505-50, formerly EITF 96-18, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services,” for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option, whichever can be more clearly determined. During the year ended March 31, 2014, the Company granted 475,033 stock options to officers, directors, employees and consultants. During the year ended March 31, 2015, the Company granted 197,500 stock options to officers, directors, employees and consultants. During the period ended March 31, 2016, the Company granted 3,900,003 stock options to officers, directors, employees and consultants The options have been re-priced twice as follows: (1) Effective January 12, 2015, the Company approved the re-pricing of all 672,533 previously granted options under the Company’s 2013 Equity Incentive Plan, which had exercise prices between $1.91984 per share and $30.0 per share, to $0.17 per share which was the closing price of the Company’s common stock on January 9, 2015. All of the other terms of the options remained unchanged. The following is a summary of the inputs used to determine the value of the options using the Black-Scholes option pricing model. Date April 6, 2015 June 9, 2015 December 15, 2015 Options 2,040,003 1,000,000 860,000 Stock price grant date $0.08 $0.02 $0.01 Initial Exercise price $0.08 $0.02 $0.01 Modified Exercise price $0.01 $0.01 $0.01 Expected life 5.0 5.0 5.0 Volatility 99% 99% 84% Risk-free rate 1.31% 1.74% 1.70% Calculated value $120,778 $14,838 $5,736 Modified value $151,221 $16,347 $5,736 The following is a summary of the option activity for the period March 31, 2015 through December 31, 2016: Number of options Weighted average exercise price Outstanding, March 31, 2015 672,533 $0.01 Granted 3,900,003 $0.01 Exercised - - Expired - - Outstanding, December 31, 2016 4,572,536 $0.01 | The Company has 4,000,000,000 common shares authorized with a par value of $ 0.001 per share. The Company has 10,000,000 preferred shares authorized with a par value of $ 0.001 per share. On July 18, 2013, the Company designated, from the 10,000,000 authorized shares of preferred stock, 6,000,000 shares of Series A Preferred Stock. The Series A Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. On July 18, 2013, the Company granted 6,000,000 Series A Preferred shares and 827,670 common shares for the intellectual property. The common and preferred shares were valued at a total of $123,973. On July 19, 2013, our new officer/director agreed to cancel 5,002,554 common shares and returned them to treasury. Certain other shareholders also agreed to cancel 2,625,210 common shares. On September 5, 2013, the Company increased the authorized common shares from 900,000 to 375,030,000. Correspondingly, the Company affirmed a forward split of 4.167 for 1 in which each shareholder was issued 4.167 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. On October 29, 2013, the Company granted 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On December 11, 2013, the Company granted 2,500 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On March 10, 2014, the Company issued 833 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. The following is a summary of the inputs used to determine the value of the warrants issued in connection with common stock using the Black-Scholes option pricing model. Date October 29, 2013 December 11, 2013 March 10, 2014 Warrants 2,500 2,500 833 Stock price on grant date $30.00 $2.00 $2.00 Exercise price $50.00 $50.00 $50.00 Expected life 1 year 1 year 1 year Volatility 147% 64% 65% Risk-free rate 0.12% 0.11% 0.13% Calculated value $10,473 $0 $0 Fair value allocation of proceeds $7,381 $0 $0 On April 4, 2014, the Company issued 833 units at $30.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $50.00 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On April 24, 2014, the Company issued 10,000 units at $25.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $35.00 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On July 10, 2014, the Company issued 7,000 units at $4.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $15.00 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On July 29, 2014, the Company issued 7,000 units at $5.00 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $15.00 and a three year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On June 9, 2015, the Company issued 900,000 units at $0.02 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.02 and a five year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. On December 15, 2015, the Company issued 4,000,000 units at $0.01 per unit. Each unit consisted of one common stock warrant with an exercise price of $0.01 and a five year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs is below. The following is a summary of the inputs used to determine the value of the warrants issued in connection with common stock using the Black-Scholes option pricing model. Date April 4, 2014 April 24, 2014 July 10, 2014 July 29, 2014 June 9, 2015 Dec 15,2015 Warrants 833 10,000 7,000 7,000 900,000 4,000,000 Stock price on grant date $19.90 $25.20 $3.70 $3.70 $0.02 $0.01 Exercise price $50.00 $35.00 $15.00 $15.00 $0.02 $0.01 Expected life 1 year 3 year 3 year 3 year 5 year 5 year Volatility 113% 76% 119% 119% 98% 98% Risk-free rate 0.12% 0.84% 0.96% 0.98% 1.74% 1.71% Calculated value $3,181 $104,416 $12,130 $12,102 $13,259 $29,612 Fair value allocation of proceeds $2,822 $73,653 $8,637 $8,992 $13,259 $29,612 The following is a summary of the warrant activity for the period from April 1, 2013 to March 31, 2016: Number of warrants Weighted average exercise price Outstanding, March 31, 2014 5,833 $50.00 Granted 24,833 $24.00 Exercised - - Outstanding, March 31, 2015 30,666 $29.00 Granted 4,900,000 $0.012 Exercised - - Outstanding, March 31, 2016 4,930,666 $0.192 On May 7, 2014, the Company granted 25,000 shares to a consultant for prior services rendered. The Company had accrued $300,000 for these services as of March 31, 2014. On June 16, 2014, the Company issued 14,690 shares of common stock for stock deposits of $147,050. The Company had received the deposits during the year ended March 31, 2014. On July 1, 2014, the Company granted 10,000 shares to a professional for prior legal services rendered. The Company had accrued $30,000 for these services as of June 30, 2014. The shares were valued on the grant date at the fair market value of $60,000 resulting in a loss on the issuance of shares of $30,000. On October 6, 2014, the Company entered into an Asset Assignment Agreement (the Assignment Agreement) with Imagic, LLC, a related party, and its principals to acquire certain assets including a US Patent entitled Compositions and methods of use of Phorbol Esters for the treatment of Hodgkins Lymphoma, and all related intellectual property, inventions and trade secrets, data and clinical study results. In consideration for the intellectual property the Company issued 2,207,920 common shares. These shares were valued at a total of $7,904,355; however, since the asset was acquired from a related party the Company valued the asset at the cost of the asset to the related party, $82,120, and treated the excess value of $7,822,235 as a deemed dividend reducing additional paid in capital. Also on October 6, 2014, the Board of Directors approved the issuance of 80,000 shares of common stock to the CEO and 40,000 shares of common stock to the Companys attorney as bonuses. The shares were valued based on the closing stock price on the grant date for a total value of $429,600. On November 19, 2014, the Company entered into an agreement with an unrelated vendor to provide six months of consulting services in exchange for 5,000 shares of common stock. The shares were valued based on the closing stock price on the grant date for a total value of $6,450. The entire contract was expensed as of March 31, 2015. On August 13, 2014, the Company entered into an investment agreement with an investor to invest up to $4,000,000 to purchase the Companys common stock. The price per share for each investment is determined by the lesser of: (1) 65% of the lowest traded price of the Companys common stock during the ten consecutive trading days prior to the drawdown notice date or (2) 65% of the closing bid price on the day before the drawdown notice is submitted. During the year ended March 31, 2015, the Company issued 799,619 shares of common stock to this investor for total proceeds of $220,000. On April 22, 2015, the Company sold 100,381 shares of common stock for $5,405 in cash, which was paid directly to a vendor for accounts payable. On June 25, 2015, the Company sold 1,542,455 shares of common stock for $10,797 in cash, of which $3,750 was paid directly to professionals in connection with the expenses of that sale, and $7,047 was retained by the Company. On July 7, 2015, the Company sold 1,619,423 shares of common stock for $11,336 in cash, of which $3,750 was paid directly to a vendor for professional services. On July 15, 2015, the Company sold 1,439,282 shares of common stock for $10,075 in cash. On October 27, 2015, the Company sold 1,648,840 shares of common stock for $11,542 in cash. During the years ended March 31, 2016 and, 2015, the Company received, as listed, conversion notices from various note holders. The Company issued the following common shares to satisfy the conversion of the following debt and interest: Date Debt/Interest Converted Common Stock Issued Price per Share September 22, 2014 $ 12,000 5,505 $ 2.18 October 1, 2014 $ 12,000 6,487 $ 1.85 October 8, 2014 $ 9,000 5,056 $ 1.78 October 16, 2014 $ 6,000 4,546 $ 1.32 October 29, 2014 $ 15,000 12,500 $ 1.20 November 3, 2014 $ 10,000 8,197 $ 1.22 November 7, 2014 $ 12,000 11,881 $ 1.01 November 19, 2014 $ 18,120 28,312 $ 0.64 December 8, 2014 $ 15,000 34,884 $ 0.43 December 15, 2014 $ 12,000 42,857 $ 0.28 December 26, 2014 $ 17,200 74,783 $ 0.23 February 11, 2015 $ 29,900 747,500 $ 0.04 February 12, 2015 $ 17,333 373,561 $ 0.046 February 13, 2015 $ 17,894 372,800 $ 0.048 February 15, 2015 $ 35,730 739,243 $ 0.048 February 17, 2015 $ 17,003 366,440 $ 0.046 February 23, 2015 $ 20,603 470,900 $ 0.044 February 23, 2015 $ 17,003 366,440 $ 0.046 February 24, 2015 $ 9,488 204,473 $ 0.046 February 26, 2015 $ 42,030 1,050,750 $ 0.040 February 27, 2015 $ 26,880 560,000 $ 0.048 March 2, 2015 $ 56,402 1,215,551 $ 0.046 March 9, 2015 $ 33,900 475,182 $ 0.071 March 10, 2015 $ 25,200 700,000 $ 0.036 March 20, 2015 $ 10,000 181,818 $ 0.006 March 31, 2015 Total $ 498,686 8,059,666 On February 8, 2016, the Company approved a change in the authorized shares of common stock to 375,030,000 shares. Effective February 11, 2016, the Company approved a reverse stock split of the common stock, par value $0.001 per share at a ratio of 1 for 100 of each share issued and outstanding on the effective date. These financial statements retroactively reflect the reverse stock split for all periods. Date Debt/Interest Converted Common Stock Issued Price per Share April 1, 2015 $ 16,650 411,111 $ 0.04050 April 6, 2015 $ 10,000 209,644 $ 0.04770 April 8, 2015 $ 15,309 453,561 $ 0.03375 April 8, 2015 $ 20,001 454,545 $ 0.04400 April 9, 2015 $ 14,320 325,455 $ 0.04400 April 14, 2015 $ 10,000 236,967 $ 0.04220 April 16, 2015 $ 1,918 53,000 $ 0.03619 April 21, 2015 $ 10,000 259,740 $ 0.03850 April 29, 2015 $ 15,000 389,610 $ 0.03850 May 4, 2015 $ 5,083 131,464 $ 0.03866 May 12, 2015 $ 28,456 903,380 $ 0.03150 May 20, 2015 $ 20,199 947,645 $ 0.02131 May 20, 015 $ 17,240 783,636 $ 0.02200 May 27, 2015 $ 13,568 701,801 $ 0.01933 May 29, 2015 $ 15,000 882,353 $ 0.01700 June 11, 2015 $ 9,897 942,609 $ 0.01050 June 16, 2015 $ 14,100 1,175,000 $ 0.01200 June 16, 2015 $ 13,565 1,130,417 $ 0.01200 June 22, 2015 $ 7,415 1,235,833 $ 0.00600 June 22, 2015 $ 14,384 2,479,924 $ 0.00580 June 23, 2015 $ 7,752 1,292,000 $ 0.00600 September 16, 2015 $ 7,974 1,772,033 $ 0.00450 September 28, 2015 $ 10,000 1,666,667 $ 0.00600 September 29, 2015 $ 10,620 1,770,000 $ 0.00600 October 7, 2015 $ 2,250 375,000 $ 0.00600 October 7, 2015 $ 8,400 1,400,000 $ 0.00600 October 19, 2015 $ 9,720 1,620,000 $ 0.00600 November 2, 2015 $ 4,424 1,966,124 $ 0.00225 November 23, 2015 $ 10,000 1,666,667 $ 0.00600 November 30, 2015 $ 16,844 2,591,323 $ 0.00650 December 9, 2015 $ 1,746 775,991 $ 0.00225 December 17, 2015 $ 5,332 919,319 $ 0.00580 December 28, 2015 $ 1,341 596,200 $ 0.00225 December 28, 2015 $ 17,700 2,950,000 $ 0.00600 December 28, 2015 $ 14,305 2,384,167 $ 0.00600 December 28, 2015 $ 14,963 2,579,916 $ 0.00580 December 29, 2015 $ 8,395 1,399,167 $ 0.00600 December 29, 2015 $ 7,670 1,278,333 $ 0.00600 December 30, 2015 $ 6,651 2,956,248 $ 0.00225 January 1, 2016 $ 28,500 4,384,615 $ 0.00650 January 4, 2016 $ 19,339 3,223,213 $ 0.00600 January 5, 2016 $ 8,107 3,603,227 $ 0.00225 January 6, 2016 $ 16,070 2,678,333 $ 0.00600 January 6, 2016 $ 16,597 2,861,607 $ 0.00580 February 16 ,2016 $ 1,424 4,220,400 $ 0.00034 February 17, 2016 $ 12,800 8,443,272 $ 0.00152 February 23, 2016 $ 4,640 4,218,182 $ 0.00110 February 23, 2016 $ 3,086 4,200,871 $ 0.00073 February 24, 2016 $ 1,492 4,419,970 $ 0.00034 February 25, 2016 $ 3,000 2,638,987 $ 0.00114 February 25, 2016 $ 4,640 4,218,182 $ 0.00110 March 1, 2016 $ 1,313 5,834,458 $ 0.00022 March 2, 2016 $ 4,600 5,831,643 $ 0.00079 March 2, 2016 $ 1,650 2,586,410 $ 0.00064 March 2, 2016 $ 9,332 11,650,000 $ 0.00080 March 7, 2016 $ 2,799 6,546,292 $ 0.00043 March 11, 2016 $ 1,924 4,147,500 $ 0.00046 March 14, 2016 $ 2,245 7,125,777 $ 0.00032 March 15, 2016 $ 3,329 7,454,098 $ 0.00045 March 15, 2016 $ 5,210 11,450,000 $ 0.00046 March 22, 2016 $ 2,419 8,957,888 $ 0.00027 March 22, 2016 $ 2,367 7,200,486 $ 0.00033 March 22, 2016 $ 5,315 11,682,000 $ 0.00046 March 28, 2016 $ 1,986 8,958,779 $ 0.00022 March 31, 2016 Total $ 602,376 194,603,040 The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718: Compensation - Stock Compensation, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The Company follows ASC Topic 505-50, formerly EITF 96-18, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services, for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option, whichever can be more clearly determined. During the year ended March 31, 2014, the Company granted 475,033 stock options to officers, directors, employees and consultants. During the year ended March 31, 2015, the Company granted 197,500 stock options to officers, directors, employees and consultants. During the period ended March 31, 2016, the Company granted 3,900,003 stock options to officers, directors, employees and consultants The options have been re-priced twice as follows: (1) Effective January 12, 2015, the Company approved the re-pricing of all 672,533 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $1.91984 per share and $30.0 per share, to $0.17 per share which was the closing price of the Companys common stock on January 9, 2015. All of the other terms of the options remained unchanged. (2) Effective April 6, 2015, the Company approved the re-pricing of all 2,712,535 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.17 per share, to $0.08 per share which was the closing price of the Companys common stock on April 6, 2015. All of the other terms of the options remained unchanged. (3) Effective August 4, 2015, the Company approved the re-pricing of all 3,712,535 previously granted options under the Companys 2013 Equity Incentive Plan, which had exercise prices between $.08 per share and $0.02 per share, to $0.02 per share which was the closing price of the Companys common stock on August 4, 2015. All of the other terms of the options remained unchanged. The Company revalued all existing options on January 12, 2015 and again on April 6, 2015, and again on August 4, 2015 using the Black-Scholes option pricing model using the initial terms of the options and the modified terms of the options. The difference in the valuations was recorded as additional expense. The re-pricing of the options resulted in the recognition of an additional $50,448 on January 9, 2015 and an additional $9,316 on April 6, 2015, and an additional $47,463 on August 4, 2015 in related stock based compensation expense for those periods. The following is a summary of the inputs used to determine the value of the options using the Black-Scholes option pricing model. Date May 7, 2014 July 23, 2014 October 6, 2014 April 6, 2015 June 9, 2015 December 15, 2015 Options 35,000 7,500 155,000 2,040,003 1,000,000 860,000 Stock price grant date $12.00 $6.90 $3.58 $0.08 $0.02 $0.01 Initial Exercise price $12.00 $6.90 $1.91984 $0.08 $0.02 $0.01 Modified Exercise price $0.01 $0.01 $0.01 $0.01 $0.01 $0.01 Expected life 10.00 10.00 5.0 5.0 5.0 5.0 Volatility 73% 88% 101% 99% 99% 84% Risk-free rate 2.56% 2.53% 1.04% 1.31% 1.74% 1.70% Calculated value $315,772 $45,109 $454,798 $120,778 $14,838 $5,736 Modified value $7,164 $1,537 $31,408 $151,221 $16,347 $5,736 The following is a summary of the option activity for the period April 1, 2013 through March 31, 2016: Number of options Weighted average exercise price Outstanding, March 31, 2014 475,033 $0.01 Granted 197,500 $0.01 Exercised - - Expired - - Outstanding, March 31, 2015 672,533 $0.01 Granted 3,900,003 $0.01 Exercised - - Expired - - Outstanding, March 31, 2016 4,572,536 $0.01 |